A few questions for sellers

MemberThread Starter

I listed my first auction the other day & today I received my first bid, now I'm getting nervous. Does Paypal/eBay send out invoices for you if not how do I do that? To receive payments through paypal do I have to give them my bank account or is my CC info good enough? And how much does paypal generally take?? I read something where if the buyer uses a bank account it's free, if they use a CC it's a percentage if the final selling price? How will I know what they pay by...I thought paypal was paypal, it specifically tells you what method they used. Sorry for all the questions, thanks everyone.

Member

Hi! by the way, congrats on your 1st listing! after the auction's over, you'll have the option on your myebay to send them an invoice, this will include their shipping and handling. to pay by paypal they need your email address. make sure the buyer is the same person using the paypal address. i mean, if their liz smith wins the auction make sure liz smith is using her own paypal name and address, if they're not confirmed you may have a problem. i've never had a problem with this, but apparnetly it exists.
but they only need to type in the email address you give them in order to pay for the item. I use my email and my buyers just type that in adn the $ goes to my account. the %'s always change, its irritating, once i sold something for 50 and they took almost 3 bucks out, i think bank accounts or cc's its the same thing, thye make $ off your auction either way. hope that helps!!! gluck
-Grace

Member

Congrats on your first auction! Are you signed up with PayPal? I am, it's much easier that way. Go to their site and read what is involved-when a buyer uses PayPal, your auction is given a PayPal ID #, which you access by going to your PayPal account-the total amount of payment is shown, the percentage they are taking out (in $), then they give you the option of where you want your $ to go-you really need to read their stuff and set yourself up. Also, don't forget that when your item sells you will owe eBay $, which THEY DON'T TAKE OUT AT AUCTION TIME, but you will have to be prepared to pay them at least once a month. It's really not that bad, good luck, ask more ? if you need to, and remember, feedback is important for both buyer and seller.

Member

eBay or Paypal won't send the buyer an invoice on your behalf (unless you enable this function), but the buyer will automatically receive an Ebay email telling him that he'd won the auction and reminding him to pay. I don't usually bother sending out Ebay or Paypal invoices to my buyers. Most of them pay up without any prompting. If they still don't pay after a couple of days, then I'll email them or send them an invoice.

As for Paypal fees, it depends on whether your Paypal account is a personal account or a business/merchant account. Personal accounts cannot receive CC payments, but then it'd be free for you. Business/merchant accounts can receive CC payments, but you'd have to pay Paypal a % (the % varies - you pay slightly more if it's a payment by a buyer from another country - 0.34%+$0.30). Paypal will deduct this % automatically once the buyer pays you. Btw, Ebay now rules that if you accept Paypal as a form of payment, then you must accept all Paypal payments, ie. you can't tell your buyer that you don't accept CC payments .... think that's Ebay's way of earning more $ from sellers by forcing them to have business/merchant accounts and to pay the % (fyi, Paypal is owned by Ebay).

Member

As long as ur ATM card have Visa or Master logo, you should be fine. Congratz for ur first listing! If you plan to sell more items on Ebay, save your terms and formats on computer, so all you need to add is the pic and description instead of start from scratch. GL!

MemberThread Starter

Okay one more question:when you are adding your bank account, you have to confirm it. It asks for your bank user name, password, & customer access number...what is customer access # is it the bank's phone number that my account is at?